Real estate agent NEEDS a one-on-one coach...

Real Estate Agent
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Real estate agent NEEDS a one-on-one coach...

Account Closed
Member since 2018 · 1 post · 0 votes

Hi, everyone.

I joined the Bigger Pockets community just so I could post this question.

My mother has been a real estate agent in Florida for about 3 years; but her business is not doing well.  Unfortunately, her broker / company is not providing very good training (or at least not to the level of support that she needs).  To make a long story short, I think she needs one-on-one coaching to walk her through the process of growing her business.  

***I want to emphasize that she needs an actual, live person - not just a book, course, etc. as she struggles working on her own.***

If I could "design" the perfect coach for her, I think she needs something like the following:

  • One-on-one coaching from an experienced real estate agent
  • Weekly 1-hour phone/video calls for discussion, accountability, and training
  • Specific guidance in the following areas:
    • Courses/classes/books
    • Getting involved in the local community
    • Lead generation
    • Building an online brand (e.g. social media, personal website, etc.)
    • Building her network

To be blunt, she gets overwhelmed easily and struggles with prioritizing.  I think if she could get weekly coaching from an experienced real estate agent for about 1-year, I think she would flourish under the accountability and guidance.  

I know that Bigger Pockets has a rule against asking for mentors - so, does anybody have any advice on how I could go about finding a coach for my mother that would satisfy the above requirements?

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
7y

few items.. one join a brokerage that helps new agents.. Like Keller Williams or C 21.

get on a top producers team.. this is a great way to move up in the business.

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  • Zach SikesBusiness Member
    Residential Real Estate Broker · Edmond, OK · Member since 2011 · 452 posts · 183 votes
    7y

    @Account Closed - there are a ton of real estate coaches out there that are amazing. Tom Ferry is the big one right now. I coach other agents/team leaders grow their business in a partnership with one of our technology vendors. 

    ***@BP moderator - not intended as solicitation, intention is to help answer questions 

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    few items.. one join a brokerage that helps new agents.. Like Keller Williams or C 21.

    get on a top producers team.. this is a great way to move up in the business.

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  • Frank Wong
    Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
    7y

    Hi Ken,

    @Jay Hinrichs

    I second what Jay said.  Your mom needs to join a firm with a top team where she can learn off.  I don't think a coaching program like Tom Ferry is what she needs.  She needs people in her office to follow and learn off.  

    Has she thought about being a transaction coordinator?  Sometimes agents that don't do well in that role do great as a TC.  Less stress in getting clients, less pressure to perform and make sales.  A TC will stay in the office process the deal from agents.  Experienced TCs can work from home. This would be a great role to learn make money and go back to being an agent if she wishes to. 

    2Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    @Frank Wong  there are so many people on BP that we see with limited capital but want to bust in and I cant think of a better thing than to be a TC...  my wifes TC makes 400.00 a file and she closed 30 deals last year LOL and she is just one agent a good TC can easily knock down 100k a year and you will learn real estate.. And no spending money on marketing or any of that. and my wifes TC works from home  

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  • Frank Wong
    Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
    7y
    Originally posted by @Jay Hinrichs:

    @Frank Wong  there are so many people on BP that we see with limited capital but want to bust in and I cant think of a better thing than to be a TC...  my wifes TC makes 400.00 a file and she closed 30 deals last year LOL and she is just one agent a good TC can easily knock down 100k a year and you will learn real estate.. And no spending money on marketing or any of that. and my wifes TC works from home  

     Exactly Jay!   It's like the perfect role for someone that wants to get started in real estate.  Have a few top producers like your wife and $$$$$.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y
    Originally posted by @Jay Hinrichs:

    @Frank Wong  there are so many people on BP that we see with limited capital but want to bust in and I cant think of a better thing than to be a TC...  my wifes TC makes 400.00 a file and she closed 30 deals last year LOL and she is just one agent a good TC can easily knock down 100k a year and you will learn real estate.. And no spending money on marketing or any of that. and my wifes TC works from home  

    There is a TC in my office that handles a half dozen or so producing agents. Im sure he takes down $100k or more. More than a lot of agents. Most of the personal assistants in my office make over $50k.

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  • Hai Loc
    Specialist · Toronto, Ontario · Member since 2012 · 2k+ posts · 891 votes
    7y
    Try Mike Ferry
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  • Lien VuongBusiness Member
    Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
    7y

    You're such a great son to be doing this research for her! 

    I think that a mentor in the caliber that you're trying to find your mother might be very costly and perhaps too large a small in the infancy of her career. I would second my peers on here and ask your mom to move brokerages that will better support her. Unfortunately it didn't seen like she did her due diligence in finding the right fit initially but it's never too late to click reset and start with a team that will support and give you proper leads and helps to train you! 

    I, myself, did the same thing and after changing teams, I was given better tool and network to prosper. I think being a TC or the office admin would be very lucrative  and valuable way to gain knowledge of the industry while being on the inside of so many successful agents and seeing how they do business. 

    Maybe it doesn't sound too glamorous for you mom of going to closings and showing beautiful homes but trust me, after a dozen of them, it gets old! 

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  • Irene Nash
    Realtor · Member since 2018 · 138 posts · 174 votes
    7y

    @Account Closed  Hi Ken, I'm just curious as to whether or not you feel like your question has been answered on this thread?

    The personalized curriculum you described (which makes total sense IMO) is kind of like a mentorship scenario that would probably work best if it were tailored a bit more specifically to your mother than something you might find offered by one of the mainstream coaches - not saying they don't have good programs and maybe one would be exactly the right fit, but it kind of sounds like you're looking for a well-qualified mentor.

    With that in mind I'm wondering if you might be able to look around in her area for experienced agents who clearly have good branding and a strong community presence and who do a good amount of business and contact them directly to see if they might be interested in something like that, or if they can recommend a specific agent. Someone who's very good at networking and community-driven stuff may not necessarily also be the current expert on websites or Instagram, but as far as training on the actual job, effectively marketing to community and sphere, and actively soliciting referrals, they might be able to help a lot - and those are huge cornerstones of success in real estate.

    A busy agent might struggle to find time to mentor someone, but a successful agent who's not as full on as they used to be (but who still knows their stuff) could be the right kind of person, and obviously it depends as well on what you'd expect to pay them.

    One thing to keep in mind is that while it's easy to pick out the big agent names in a community, there's usually a large under-the-radar segment of lesser known agents who may look like your grandmother or your kid's high school teacher and who are quietly "crushing it" in real estate. Someone like this who's interested in mentoring or who is phasing out and would enjoy this type of arrangement might be a good option for the personalized type of coaching you described. So you could look around and try to track down someone like this yourself, or you could post on other agent sites such as Active Rain (I think that's a pretty involved community and it's huge) and just ask for someone there. (I'm not affiliated with them.) Good luck!

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  • Greg H.Pro Member
    Moderator
    Broker/Flipper · Austin, TX · Member since 2013 · 4k+ posts · 4k+ votes
    7y

    I would be concerned that you are seeking a coach for her instead of her seeking it for herself.  Difficulty in motivating one's self leads to the downfall of 90+% of those who enter in to sales at any level

    I would look to join a team at KW or the like that tend to have tons of motivational meeting and team building exercises 

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  • Corby GoadeBusiness Member
    Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
    7y

    I was going to post almost the exact same message as @Greg H., he beat me to it. You specifically state that she is easily overwhelmed and struggles with prioritizing. Those traits are going to cause her problems whether she is a real estate agent, a waitress or a bartender. I'd say she should spend some time addressing those issues and I'd be willing to bet that many things would start to fall in to place for her, both professionally and personally. 

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  • Charlie MacPherson
    China, ME · Member since 2014 · 3k+ posts · 4k+ votes
    7y

    @Account Closed Lots of good responses so far.  I'd add that both Tom Ferry and Mike Ferry have good YouTube channels that are free.

    She also sounds like she's not at a very supportive brokerage.  I was in the same position for my first 10 months at Weichert.  My particular brokerage was owned by a high-producing broker, so I had to compete with her for business as well as her time.  I almost had to tackle her to the ground to get any questions answered.  

    I asked for a few minutes of training when I got my first listing appointment - she refused, saying "I went out on my first one with no training - you can too".  And she seemed to think "it's on the website" was the answer to any request for training.  I got out after 10 months and never looked back.

    I'd suggest your Mom goes out to interview several other brokers in the area.  See who has the best training and lead generation programs.  Commission split is really secondary to those.

    2Reply
  • Mike CumbieBusiness Member
    REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
    7y

    I will have to join in the group recommending to join a team. Once there watch and learn while working on building a decent client list so she can go off on her own. 

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  • Mike CumbieBusiness Member
    REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
    7y

    @Charlie MacPherson really hit it on the head here

    "Commission split is really secondary to those."

    I have new agents ask about our 95/5 program all the time. Most don't understand when I tell them that they are not ready for that. 

    @Account Closed

    IMO there are really three ways to break out into being an agent. 

    1) Spend a boatload of money buying leads and advertising

    2) Spend a boatload of time meeting hundreds of new people a week and showing every person every possible thing they can want to see (90 hours a week)

    3) Find an experienced agent and join their team at a lower split and learn the business while they feed you leads and knowledge.

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